Ms. K. C. Chen, TSMC spokesperson, stated that TSMC can win more options and greater flexibility in adjusting its current long-term investment portfolio through its investment on Amkor Technology, the world’s largest provider of contract microelectronics manufacturing services.
The major conclusions of this Board meeting are as followed:
The Board approved the sale of all TSMC shares of TSTC, totaling 50,000,000 shares, to Amkor Technology Inc. In exchange, TSMC will receive NT$ 115,000,000 in cash and 505,050 NASDAQ-listed shares of Amkor Technology stock. Also, 12 months after closing of the transaction, if TSTC meets its 2001 revenue plan, TSMC will receive an additional NT$ 86,500,000 (or Amkor shares of equivalent cash value) as profit sharing at the value of NT$1.73 for each TSTC share.
The Board approved an increased investment in TSMC Japan K. K. in the amount of ? 180 million, to further develop TSMC’s market share in Japan and provide Japanese customers with necessary technical support.
